Bodin Company manufactures finger splints for kids who get tendonitis from playing video games. The firm...
Bodin Company manufactures finger splints for kids who get
tendonitis from playing video games. The firm had the following
inventories at the beginning and end of the month of
January.
| January 1 | January 31 | |||||
| Finished goods | $ | 125,000 | $ | 117,000 | ||
| Work in process | 237,000 | 251,000 | ||||
| Raw material | 133,000 | 124,000 | ||||
The following additional data pertain to January
operations.
| Raw material purchased | $ | 192,000 | |
| Direct labor | 300,000 | ||
| Actual manufacturing overhead | 170,000 | ||
| Actual selling and administrative expenses | 120,000 | ||
The company applies manufacturing overhead at the rate of 60 percent of direct-labor cost. Any overapplied or underapplied manufacturing overhead is accumulated until the end of the year.
1. Compute the company’s prime cost for January.
2. Compute the total manufacturing cost for January.
3. Compute the cost of goods manufactured for January.
4. Compute the cost of goods sold for January.
5. Compute the balance in the manufacturing overhead account on January 31. Debit or credit?
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Bodin Company manufactures finger splints for kids who get
tendonitis from playing video games. The firm...
Bodin Company manufactures finger splints for kids who get tendonitis from playing video games. The firm...
Bodin Company manufactures finger splints for kids who get
tendonitis from playing video games. The firm had the following
inventories at the beginning and end of the month of
January.
January 1
January 31
Finished goods
$
125,000
$
117,000
Work in process
235,000
251,000
Raw material
134,000
124,000
The following additional data pertain to January
operations.
Raw material purchased
$
191,000
Direct labor
350,000
Actual manufacturing overhead
170,000
Actual selling and administrative expenses
115,000
The company applies manufacturing overhead...
Please help me figure out how to compute this question. Compute company's cost for January. a)...
Please help me figure out how to compute this question.
Compute company's cost for January.
a) Prime cost
b) total manufacturing cost
c) Cost of Goods manufactured
d) Cost of good sold
e) Manufacturing account balance on Jan 31st
Check m Required informetion The folowno intornaton epoies o the questions B dir/company man ufactures finger splints for kids who get ten ga firm had whg iventoniés at the beglning and end of the menth bt inished goods $ 124,006 ,000...
Burger Company had the following inventories at the beginning and end of the month of January....
Burger Company had the following inventories at the beginning and end of the month of January. January 1 January 31 Finished Goods 125,000 117,000 Work-in-process 235,000 251,000 Direct materials 134,000 124,000 The following additional manufacturing data was available for the month of January. Direct materials purchased $189,000 Purchase returns and allowances 1,000 Transportation in 3,000 Direct labor 300,000 Actual factory overhead 175,000 Burger Company applies factory overhead at a rate of 60% of direct labor cost, and any overapplied or...
Burger Company had the following inventories at the beginning and end of the month of January....
Burger Company had the following inventories at the beginning and end of the month of January. January 1 January 31 Finished Goods 125,000 117,000 Work-in-process 235,000 251,000 Direct materials 134,000 124,000 The following additional manufacturing data was available for the month of January. Direct materials purchased $189,000 Purchase returns and allowances 1,000 Transportation in 3,000 Direct labor 300,000 Actual factory overhead 175,000 Burger Company applies factory overhead at a rate of 60 percent of direct labor cost, and any overapplied...
Burger Company had the following inventories at the beginning and end of the month of January....
Burger Company had the following inventories at the beginning and end of the month of January. January 1 January 31 Finished Goods 125,000 117,000 Work-in-process 235,000 251,000 Direct materials 134,000 124,000 The following additional manufacturing data was available for the month of January. Direct materials purchased $189,000 Purchase returns and allowances 1,000 Transportation in 3,000 Direct labor 300,000 Actual factory overhead 175,000 Burger Company applies factory overhead at a rate of 60 percent of direct labor cost, and any overapplied...
The following account balances at the beginning of January were selected from the general ledger of...
The following account balances at the beginning of January were selected from the general ledger of Fresh Bagel Manufacturing Company Work in process inventory Raw materials inventory Finished goods inventory $0 $28,800 $40,700 Additional data: 1. Actual manufacturing overhead for January amounted to $64,900. 2. Total direct labor cost for January was $63,300. 3. The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for $240,000 of direct labor cost and $336,000 of...
The following account balances at the beginning of January were selected from the general ledger of...
The following account balances at the beginning of January were selected from the general ledger of Frozen Juice Manufacturing Company: Work in process inventory $0 Raw materials inventory $28,600 Finished goods inventory $41,000 Additional data: 1. Actual manufacturing overhead for January amounted to $67,200. 2. Total direct labor cost for January was $63,100. 3. The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for $251,000 of direct labor cost and $301,200 of...
The following account balances at the beginning of January were selected from the general ledger of...
The following account balances at the beginning of January were selected from the general ledger of Fresh Bagel Manufacturing Company: Work in process inventory $0 Raw materials inventory $ 28,400 Finished goods inventory $40,200 Additional data: 1. Actual manufacturing overhead for January amounted to $ 67,900. 2. Total direct labor cost for January was $ 63,000. 3. The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for $ 240,000 of direct labor...
Required information [The following information applies to the questions displayed below.] Alexandria Aluminum Company, a manufacturer...
Required information
[The following information applies to the questions
displayed below.]
Alexandria Aluminum Company, a manufacturer of recyclable soda
cans, had the following inventory balances at the beginning and end
of 20x1.
Inventory Classification
January 1, 20x1
December 31, 20x1
Raw material
$
60,000
$
70,000
Work in process
120,000
115,000
Finished goods
170,000
165,000
During 20x1, the company purchased $250,000 of raw material and
spent $400,000 on direct labor. Manufacturing overhead costs were
as follows:
Indirect material
$
8,000...
please explain The following data from the just completed veat are taken from the corner Company...
please explain
The following data from the just completed veat are taken from the corner Company Sales Direct labor cost Raw material purchases Selling expenses $100,000 Administrative expenses Manufacturing overhead applied to work in process%202,000 Actual manufacturing overhead costs $668,000 $ 89,000 $133,000 $ 40,000 $221,000 Inventories Beginning Ending Raw materials $ 8,700 $10,700 Work in process$ 5,700 $20,900 Finished goods $73,000 $25,300 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production...
Bodin Company manufactures finger splints for kids who get
tendonitis from playing video games. The firm had the following
inventories at the beginning and end of the month of
January.
January 1
January 31
Finished goods
$
125,000
$
117,000
Work in process
235,000
251,000
Raw material
134,000
124,000
The following additional data pertain to January
operations.
Raw material purchased
$
191,000
Direct labor
350,000
Actual manufacturing overhead
170,000
Actual selling and administrative expenses
115,000
The company applies manufacturing overhead...
Please help me figure out how to compute this question.
Compute company's cost for January.
a) Prime cost
b) total manufacturing cost
c) Cost of Goods manufactured
d) Cost of good sold
e) Manufacturing account balance on Jan 31st
Check m Required informetion The folowno intornaton epoies o the questions B dir/company man ufactures finger splints for kids who get ten ga firm had whg iventoniés at the beglning and end of the menth bt inished goods $ 124,006 ,000...
The following account balances at the beginning of January were selected from the general ledger of Fresh Bagel Manufacturing Company Work in process inventory Raw materials inventory Finished goods inventory $0 $28,800 $40,700 Additional data: 1. Actual manufacturing overhead for January amounted to $64,900. 2. Total direct labor cost for January was $63,300. 3. The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for $240,000 of direct labor cost and $336,000 of...
Required information
[The following information applies to the questions
displayed below.]
Alexandria Aluminum Company, a manufacturer of recyclable soda
cans, had the following inventory balances at the beginning and end
of 20x1.
Inventory Classification
January 1, 20x1
December 31, 20x1
Raw material
$
60,000
$
70,000
Work in process
120,000
115,000
Finished goods
170,000
165,000
During 20x1, the company purchased $250,000 of raw material and
spent $400,000 on direct labor. Manufacturing overhead costs were
as follows:
Indirect material
$
8,000...
please explain
The following data from the just completed veat are taken from the corner Company Sales Direct labor cost Raw material purchases Selling expenses $100,000 Administrative expenses Manufacturing overhead applied to work in process%202,000 Actual manufacturing overhead costs $668,000 $ 89,000 $133,000 $ 40,000 $221,000 Inventories Beginning Ending Raw materials $ 8,700 $10,700 Work in process$ 5,700 $20,900 Finished goods $73,000 $25,300 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production...
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